hi
We had a holiday planned and now a house has come up for auction on that weekend and the vendors dont want to engage any offers pre-auction.
We don't have any family here. The agent advised that we can bid at auction over phone and it happens all the time. If successful, the auctioneer will sign the contract on our behalf and we have to transfer money remotely.
What are your thoughts on this? Are there any considerations pre-auction that we should do?
Any recommendations in Sydney? and Any idea what sort of money they charge as we just need them to be present on that day and bid for us.
I don't see any reason not to - if you know your price/limit - what does it matter if you're there or not - just bid up to that amount
This: all the 'strategies' people use are bullshit.
Unless its a ak47 bullet to the first 3 to bid, after 3 they should stop bidding right?
happens on the block all the time.
Just successfully won at auction via the phone and I was interstate.
Be prepared and do your research. Building and pest inspection etc
Awesome man…did you had any relative sign for you or you trusted the agent and auctioneer to do the right thing?
They did it for me. Why do you think they won't..
I certainly don't know what scenarios can play out where they maybe able to game but given they are acting for vendors so certainly they won't be acting in my favour !
Choosing a buyers agent to do it for you (over the phone) will allow the buyers agent to act on your behalf and 'read the room'. If you are on the phone you can't see any of the body language etc and need to trust that the agent you are talking to is telling you exactly what is going on.
yes - thats definitely one strong consideration but if lets say i have a max figure in my mind that i am happy to pay for it - does it matter?
What does 'read the room' mean? What body language are you expecting to be able to read? If you think the place is worth more to you, bid more. If not, "reading body language" is not going to change your decision.
I did for it for my current house. Asked a friend to go along and bid for me. I was on the phone the whole time (as i was interstate), and won it when i had just reached my cut off point.
The key is, decide your top dollar, keep bidding till you get there. Walk away when it goes over. Dont be emotional and keep going. Its actually easier not being there!!
Thanks mate
Get a buyers agent.